The Company acquired motor vehicle under hire purchase agreements under capital lease. The lease arrangement requires monthly payments of $1,869 for a period of 36 to 84 months.

The Company has included the asset as motor vehicle as follows:

	March 31,		December 31,
	2021		2020
Motor vehicle	$	132,465	$	134,130
Less: accumulated depreciation		34,666		28,395
Net		97,799		105,735

Interest expenses were $533 and $342 for the three months ended March 31, 2021 and 2020, respectively.

The future minimum payments under the capitalized lease, together with the present minimum value of net minimum lease payments at the period ended March 31, 2021 and December 31, 2020 as follows:

	March 31,		December 31,
	2021		2020
Repayable within 1 year.	$	22,153	$	22,431
Repayable within 2 year		22,153		22,431
Repayable within 3 year		14,628		17,666
Repayable within 4 year		10,876		11,013
Repayable within 5 year		10,876		11,013
Thereafter		4,536		7,346
Total		85,222		91,900
Less amount representing interest		9,174		9,823
Present value of lease payments		76,048		82,077